The Financial Conduct Authority (FCA) has dropped its intention to place a lifetime ban on former chief operating officer at Barclays Wealth and Investment Management Andrew Tinney, who shredded a report on business' culture that described it as "out of hand".
In 2013, Tinney was forced to quit the firm amid allegations that he had suppressed a "wealth cultural audit report" on Barclays Wealth's US branch, Barclays Wealth Americas, which described it as "out of control". He was also found to have misled the FCA and other regulatory bodies, forcing the former to publish a statement on his misconduct and impose a lifetime ban. Tinney brought his case to the Upper Tribunal, which has subsequently held up the charges of acting without integrity and misleading to a regulatory body in the wake of the scandal, but did not uphold the FCA's decision...
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